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Add Partner to LLP

Director of a company are living person entrusted by the shareholders to manage the affairs of the company.

Introduction

Partners in an LLP are responsible for the carrying on the business of the LLP. To add a Partner to an LLP, the person proposing to become a Partner must obtain a digital signature certificate (DSC) and director identification number (DIN). DIN can be obtained for any person who is above the age of 18. The nationality or residency status of the DIN applicant does not matters. Hence, Indian Nationals, Non-Resident Indians and Foreign Nationals can obtain DIN and be appointed as Partner of an LLP in India.

Duties and Rights of an LLP Partner

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General Duties

Partners of an LLP are bound to carry on the business of the LLP to common advantage, to be just and faithful to each other, and to render true accounts and full information of all things affecting the firm to any partner.

Duty to Indemnify

Every Partner of an LP is required to indemnify the LLP for any losses caused to it by fraud in the conduct of the business of the firm.

Additional Director

Additional Director is someone appointed by the Board of Directors between two annual general meetings subject to the provisions of the Articles of Association of a company. Additional Directors can hold office only up to the date of the next annual general meeting of the Company.

Implied Authority

The authority of a Partner to bind the LLP, in case of a transaction carried on, in the usual way business is carried on by the LLP, binds the LLP.

Rights of Partner

All Partners have the right to take part in the conduct of the business of the LLP and access to inspect and copy the book of accounts of the LLP.

Properties of LLP

All property, rights, and interest in assets (tangible or intangible) acquired or developed with the money of the LLP are deemed to belong to the LLP.

How we process an Appointment of Director

Advisory

The procedure for adding a Partner to the LLP would depend on the Partnership Agreement. Our Experts will advise you on the procedure relevant for you.

Board Resolutions

Once you obtain an understanding of the procedures involved in adding a Partner to your LLP, our Experts will draft the necessary documents for the procedure.

Filing

Once the Filings are signed, our Experts will prepare and file the necessary documents with the Ministry of Corporate Affairs to register the addition of new Partner.

Add Partner to LLP

Fill up the form below and our executive will get in touch with you very shortly.

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